The present invention comprises a new and distinct hybrid magnolia cultivar hereinafter referred to by the cultivar name ‘NCMX1’. This new magnolia was developed through a breeding program located in Mills River, N.C. ‘NCMX1’ was selected from a population of seedlings grown from a controlled cross of Magnolia×loebneri ‘Encore’ (unpatented, female parent)×Magnolia×soulangeana ‘Alexandrina’ (unpatented, male parent). The first asexual propagation of ‘NCMX1’ was carried out in July 2005 by budding onto Magnolia acuminata root stock in Mills River, N.C. and has been asexually reproduced repeatedly by budding over a 10-year period. ‘NCMX1’ has been found to retain its distinctive characteristics through successive asexual propagations.